Gdp Quiz 5 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. Person pays for a house that's 10 years old.

2. What is the difference between Nominal and Real GDP?

3. A budget surplus is best described as which of the following

4. The most current US GDP per Capita is roughly

5. Type of inflation in which price levels for goods and services increases by 500 percent or more a year?

6. Which of the following would NOT be included in GDP?

7. Which type of unemployment is this:Jon left his job in GA because he is moving to be closer to family in MO.

8. When production in an economy grows more quickly than the population in that economy, which of the following must be occurring?

9. When Ivan's birthday?

10. The U.S. Government hired 10 Chinese-language experts, from China, to train U.S. Workers.

11. The date when the prime minister born

12. What is an example of a good and/or service?

13. The percentage change in the price level from a previous period

14. Which American city is known as the "city of brotherly love"

15. Which of the following in NOT part of the GDP equation

16. Which of the following expenditure components of GDP can be negative or positive?

17. Which of the following is a final good or service?

18. When is GDP measured?

19. Real GDP is same as

20. Which is not included in the CPI calculation?

21. If the MPC is .6, the multiplier will be:

22. Remember:there are four "pieces" of GDP:C, I, G, Nx).When the government spends money to build new public schools, which piece is affected?

23. Which of the following is a main cause of poverty in the United States?

24. He is the prime minister of the Singapore.

25. Goods and services produced by U.S. firms anywhere in the world count towards